India to push global green pact at G20
climate finance. The third G20 sherpa meeting in Hampi, Karnataka over July 13-16 will discuss the contours of the draft declaration for the Leaders' Summit, said a person familiar with the development. Prime Minister Narendra Modi had detailed the key priorities for India's G20 presidency, and the effort would be to ensure deliverables in these areas, the person said.
Voicing the challenges faced by the Global South is high on India's G20 agenda. The draft declaration is expected to focus on measures to get the global economy back on track, making digital public infrastructure accessible, easing trade and investment, and reform of multilateral development banks. Post-pandemic economic challenges have exacerbated with global growth projected to decline to 2.1% in 2023 and 2.4% in 2024, as per the latest World Bank estimates.
Over 200 million people were pushed back into poverty due to Covid-19 and the global economy has been hit hard by the supply chain issues post-Russia-Ukraine conflict. New Delhi is keen to bring G20's focus back on the economic issues, which is central to the group's mandate, and thrash out solutions that can be presented to the leaders in September. Climate change financing and the cost the developed world should share needs to be defined, another person said, adding that it is an issue that India is keen to push during its presidency.
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